Trade and Development Report 1996

image of Trade and Development Report 1996

The new and illuminating report sheds light on some of the pressing policy issues facing developing countries and the international community as a whole. It explores the interaction of trends in the international economy with the prospects of developing countries. It compares current economic performance with that of the preceeding year and examines future economic prospects at the regional and global level. This special report also begins the task of examining the relevance of the Asian experience for us all to see and learn from.




The economic recovery that began in 1993 after one of the deepest recessions in the postwar era continued throughout 1995. However, as foreseen in TDR 1995, the growth of world output for the year as a whole (2.4 per cent) was smaller than in the previous year (2.8 per cent). The recovery has been much weaker than after earlier recessions and output is below potential levels. Indeed, growth in both 1994 and 1995 disappointed the official expectations that the world economy was entering a new era of sustained market-driven growth in excess of 3 per cent which would allow unemployment in the North to be lowered and average per capita income in the South raised. Prospects for 1996 are for a continuation of this slower growth, with more rapid expansion in some regions and feeble growth in others.


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